Ph.D. Coursework

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 1  Research Methodology  60 hrs  4 Credits
Module 1 Philosophy of Research
Module 2 Introduction to Research Methodology
Module 3 Data Collection and Analysis
Module 4 Databases
Module 5 Statistics for Research
Module 6 Open Access Softwares
Module 7 Library Softwares
Module 8 Quantitative Research Methods
Module 9 Qualitative Research Methodology
Module 10 Experimental Design and Methods
Module 11 Report Writing
2 P3R Course 4 weeks 4 Credits
Module 1 Introduction to Research Writing
1.3: Style and word usage
1.4: Quantitative and numerical expression
Module 2 English for Research Writing
2.1: Essentials of grammar
2.2: Common grammar mistakes
2.3: Punctuation Part 1
2.4: Punctuation Part 2
Module 3 Preparing to Write
3.1: Literature search and review
3.2: Prepare and plan to write
3.3: The IMRAD structure
3.4: Avoiding plagiarism
3.5: Ethical issues
Module 4 Non Textual and Visual Information
4.1: Use of visuals to present information
4.2: Tables
4.3: Graphs and charts
4.4: Illustrations
4.5: Visual aids
Module 5 Types of Research Writing
5.2: Oral presentations
5.5: Journal articles/papers
5.6: Research reports
5.7: Basics of thesis writing
5.8: Grant proposals
Module 6 Content-Retrieval, Revisions & Reviews
6.1: Citations and references
6.2: Checks and revisions
6.3: Peer reviews
Module 7 Advanced Research Communication
7.1: Writing for a global audience
3 Computer Application in Economic Analysis (CAEA2017-18) 1 Semester 4 Credits

Course Structure: The content of the course will be presented by means of practical hand-on sessions. The sessions will

demonstrate the concepts and methods of statistics with practical examples of different dimensions. The course will cover wide data sets Solution of some of the problem set will be discussed in the classes.

This course should be of value to those intending to study any course involving economic modeling and econometrics. Outcome: By the end of the module you should be competent in applying the mathematical and statistical tools used in econometrics and should be able to:

  1. handle real data with confidence
  2. apply econometric methods of analysis to new circumstances
  3. understand the conditions under which particular estimators are appropriate
  4. apply the theoretical methods to numerical data
  5. write and present technical material lucidly
  6. understand the basic theory of the ordinary least squares, generalized least squares and panel data models
  7. apply appropriate estimators to the type of numerical data given in seminar exercises and computing classes
  8. interpret empirical results in applied economics literature

Texts: As stand-alone resources will be provided, there will be no need to rely on particular texts. However, there are several good texts are now available which can be used as supplementary materials, including:

  • J M Wooldridge, 2009.Introductory Econometrics – A Modern Approach (4th ed), South-Western, 2009 (International Student Edition)
  • Christopher F Baum, An Introduction to Modern Econometrics using Stata, Stata Press books, StataCorp LP, number imeus, September


Module No. Content


Section 1: Model Specification: Data classification, role of data in modeling, exploratory data analysis (EDA) vs. formal statistical inference (FIS), different dimensions of data – social, time, spatial etc.

Section 2: Modeling average: working with real world dataset (usefulness and shortcomings of modeling mean, relative efficiency of mean and median, confidence interval and its interpretation, etc.)



Module 2:

Outlier detection, shape of the distribution and data transformation:

Section1: Least square principle and concept of resistance, mean-based vs. ordered-based statistics, etc.

Section 2: Outlier detection, validity of normality assumption, data transformation using cross- sectional data.



Module 3:

Linear regression and least squares principle:

Section 1: Basic principles and discussion on theoretical background

Section 2: Regression with graphics – checking the model assumption, exploratory band regression, checking of high leverage & influential points, transformation of data towards linearity, double-log transformation vs. semi-log transformation, etc.




Module 4:

Interpretation of multiple regression coefficients

Section 1: Hierarchical sequence of simple regression, introduction of added variable plot, etc.

Section 2: Working with different macroeconomic data set, money illusion in the demand function, partial vs. multiple regressions, decomposing the sum of squares across regression, coefficient of determination, partial regression vs. partial coefficients, checking the assumptions of regression model, etc.


Module 5:

Model selection/misspecification in multiple regression

Section1: Omitted variable bias, testing zero restrictions/non zero linear restrictions, etc.

Section2: Parameter stability using macroeconomic database, use of dummy variables, etc.



Module 6:


Section 1: Detecting heteroscedasticity, different test statistics, and transformation towards homoscedasticity.

Section 2: Detecting heteroscedasticity by graphical method using survey data, finding appropriate transformation, working with group data, etc.


Module 7:

Regression on categorical variable:

Handling different data sets where dependent variable is categorical, preparation, distributional and contingency tables test of association, Logit and Probit modeling, comparing logit with linear probability model.




Module 8:

Time series analysis vs. spatial analysis

Section 1: Stationarity and Non-Stationarity of data, different types of ordering of data, structural autocorrelation vs. temporal autocorrelation, Trend analysis, etc.

Section 2: Trend analysis with stationary autoregressive component, use of spreadsheet for constructing autoregressive model. Transformation to stationarity: stabilizing variance, stabilizing mean, Detecting autocorrelation, ‘genuine’ autocorrelation vs. ‘nuisance’ autocorrelation, etc. Time – space, social autocorrelation and different measurement techniques.



Module 9:

Panel data analysis

Section 1: Panel data, complicacy of panel data analysis, short vs. long panel, balanced vs. unbalanced panel, clustering of residual, types of regressor, model endogeneity, fixed vs. random effects models.

Section 2: Organization of real world dataset for panel analysis, panel identifier, time identifier, regression analysis, interpretation of result, report writing.

At this stage, students will be asked for assessment tests which include submission of the assignments and formal examination.

Grades for the course will be computed based on the following allocation:

1.      Final exam (80%) [short objective types + practical exercises + result interpretation and report writing on the basis of given dataset]

2.      Assignments (three) (20%)

4Compulsory Courses1 Semester4 CreditsA-05Basic EconometricsModule 1The nature of Econometrics and Economic DataModule 2The Classical Linear Regression Model: Estimation and InferenceModule 3Non-linear regressionModule 4Regression Analysis with Qualitative information: Binary(or Dummy)VariablesModule 5MulticollinearityModule 6Violation of the OLS AssumptionsModule 7Specifications: Choosing the Independent Variables and Functional FormModule 8Lagged Variables and Distributed-LagModelsModule 9Simultaneous Equation Models (SEM)A-06Advanced EconometricsModule 1Seemingly Unrelated Regression (SURE)Module 2Time Series
2.1 Introduction to Time Series Analysis
2.2 Stationary Time-Series Model
2.3 Models with Trend
2.4 Multiequation Time-Series Models
2.5 Cointegration and Error-correction Models
2.6 Modeling VolatilityModule 3Panel Data
3.1 Introduction Panel Data
3.2 The One-way Error Component Regression Model
3.3 The Two-way Error Component Regression Model
3.4 Test of Hypotheses with Panel Data
3.5 Introduction to Dynamic Panel Data Models

5 Elective Courses 1 Semester 4 Credits
A-01 Microeconomics-I
Module 1 Consumer Theory
Module 2 Theoryof Firm
Module 3 Theory of MarketI: PerfectCompetition,Monopoly, and Monopolistic Competition
Module 4 Game theory (basic introduction)
Module 5 Theory of Market II: Oligopoly
A-02 Microeconomics-II
Module 1 Theory of General Equilibriums
Module 2 EconomicsofUncertainty
Module 3 Games of Incomplet eInformation
Module 4 InformationEconomics
A-03 Macroeconomics
Module 1 BackgroundConcepts:
Module 2 Rational Expectations and new Classical Macroeconomics:
Module 3 RealBusiness CycleSchool
Module 4 MicroFoundationsof realand nominalrigidities:New KeynesianSchool
Module 5 Basic Infinite Horizon Models
A-04 Monetary Macroeconomics
Module 1 Definition of Money
Module 2 Supplyof Money and MoneyTransmission Mechanics
Module 3 Demand for Money
Module 4 Mone yin Walrasianandnon-Walrasian Economies and Theories of Disequilibrium Dynamics
Module 5 TheoriesoftheInterestRate
Module 6 Monetary Institutions & Monetary Policy
A-05 Basic Econometrics
Module 1 The nature of Econometrics and Economic Data
Module 2 The Classical Linear Regression Model: Estimation and Inference
Module 3 Non-linear regression
Module 4 Regression Analysis with Qualitative information: Binary(orDummy)Variables
Module 5 Multicollinearity
Module 6 Violation of the OLS Assumptions
Module 7 Specifications: Choosing the Independent Variables and Functional Form
Module 8 Lagged Variables and Distributed-LagModels
Module 9 Simultaneous Equation Models (SEM)
A-06 Advanced Econometrics
Module 1 Seemingly Unrelated Regression (SURE)
Module 2 Time Series
2.1 Introduction to Time Series Analysis
2.2 Stationary Time-SeriesModel
2.3 ModelswithTrend
2.4 Multiequation Time-Series Models
2.5 Cointegration and Error-correction Models
2.6 ModelingVolatility
Module 3 Panel Data
3.1 Introduction Panel Data
3.2 The One-way Error Component Regression Model
3.3 TheTwo-way Error Component Regression Model
3.4 Test of Hypotheses with Panel Data
3.5 Introduction to Dynamic Panel Data Models
A-07 Economic Growth and Development
Module 1 Growth
Module 2 Development,ScopeofDevelopmentEconomics
Module 3 Majorthemes/perspectivesofpost-war‘highdevelopmenttheory’(late1940sto1970s)
Module 4 Economics of Institutions
Module 5 Capital, Inequality and Growth
A-08 Public Economics
Module 1 Economic Rationale of the Modern State and Macro Economic Perspective of Public Finance
Module2 EconomicAnalysisofPublicGoods
Module 3 Economic decision making in government
Module 4 Theory of Taxation
Module 5 Tax Policy Issues in India
Module 6 Public Expenditure Theory
Module 7 Fiscal Federalism
Module 8 Fiscal Federalism in India
Module 9 Fiscal Imbalance and Management of Public Debt
A-10 International Economics: Pure Theory
Module 1 Inter-regional versus international trade
Module2 Comparative advantage in Heckscher Ohlin Model
Module 3 Recent explanations of the basis of trade interm softechnological lead,domesticmarketsizeandproductcycle approach
Module 4 The rationale of tariffs,quotas and subsidies
Module 5 Effects of quotas and other quantitative restrictions
Module 6 Theory of customs union
Module 7 Trade and growth
Module 8 Formation of regional trade blocs
Module 9 GATT and its objectives
A-11 International Economics :Money and Finance
Modu1e 1 Nature and concept of Balance of Payment (BOP)
Module 2 The market for foreign exchange
Module 3 Foreign trade and national income
Module 4 International economic policy and BOP adjust mentmechanism
Module 5 Recent theories of exchange rate determination
Module 6 EssentialsofInternational
Module 7 Longtermandshortterminternationalcapitalmovements
A-12 National Income Analysis
Modue 1 Concept of National Product
Module 2 Treatment of Government Sector
Module 3 Methods of income estimation
Module 4 Accounts for the producing sector
Module 5 Inter-temporal comparisons of National Income
Module 6 Concept of National Income in socialist countries
Module 7 National Income and Regional Income
Module 8 Related tables of accounts–input-output
Module 9 Physical Quality of Life Index and Human Development Index
A-13 Mathematics for Economic Analysis
Module 1 Linear Algebra
Module 2 Real Analysis
Module 3 Static Optimization and Comparative Statics
Module 4 Dynamic Optimization
A-14 Population Studies
Module1 Introduction and Sources of Data
Module2 PopulationSize, Growthand Characteristics
Module3 Fertility and Nuptiality
Module4 Mortality
Module 5 Migration
Module 6 Population Projection
Module7 Population and Development
Module8 Population Policy in India
A-15 Accountancy and Financial Statement Analysis
Module1 BasicPrinciples
Module2 TheAccountingProcess
Module3 PreparationofFinalAccounts/Statement
Module4 StatementofChangesinFunds
Module 5 Depreciation&InventoryValuation
Module 6 AnalysisofCompanies’AnnualReports
A-16 Financial Economics
Module1 Thedemandforsecurities
Module2 Thesupplyofsecurities
Module3 Securitiesmarketsandtheirefficiency
Module4 Thedeterminationofequityprices
Module 5 Securityanalysisandmarketefficiency
Module 6 Derivatives
Module7 Futuresprices
Module8 Optionsandoptionpricing
Module 9 Swaps,CurrencyandInterestRateSwaps
Module 10 Regulationoffinancialmarkets
A-17 Statistics
Module1 Descriptive Statistics
Module2 Test of Significance
Module3 Random Variables
Module4 Introduction to probability
Module 5 Sampling methods
Module 6 Testing of Hypothesis
Module7 Special Distributions
Module8 Estimation and Inference
Module 9 Bivariate Distributions
Module 10 Multivariate Analysis
Module 11 Nonparametric Statistics
B-01 Indian Agricultural Economics
Module1 Growth of agricultural production and income in Indiaduring pre and post-independence period
Module2 Irrigation and its development over the years
Module3 New technology(seeds, fertilizersandpesticides)including GMcrops inagriculture
Module4 Pattern sof cropping in different regions
Module 5 Farmcapitalstructureinagricultureanditschanges
Module 6 Employmentandunemploymentinagricultureanditsmeasurement
Module7 Organizationofagriculturaleconomy,landownershippattern
Module8 Institutional settings of Indian agriculture
Module 9 Credit in Indian agriculture
Module 10 Marketing
Module 11 Farmprices:regional andseasonal variations
Module 12 IncomedistributioninIndianagriculture
Module 13 Overviewof approachto agriculturaldevelopment,with referenceto internationalexperience
B-02 Transport Economics
Module1 DevelopmentObjectivesandtheRoleofTransportation
Module2 Theoretical Analysis of the Location of Economic Activities
Module3 Application of Economic Theory toTransportation
Module4 Theory and Application of Decision Making Principles and Evaluation of Large-scaleTransportProjects
Module 5 Transport and Energy
Module 6 Roleof Public Policy
B-03 Industry: Organization, Structure and Problems
Module1 Assessments of the changes in structure of industries
Module2 Constraints on growth–shortagesofrawmaterial,lackofdemand
Module3 Regional disparities
Module4 Growth of small scale and household sector
Module 5 Strategic interaction
Module 6 Market structure &models of market entry
Module7 Empirical analysis of price discrimination and non-linear pricing
Module8 Mergers and Antitrust
Module 9 Research and development and adoption of new technologies
Module 10 Advertising
Module 11 Regulations
B-04 Linear Economics
Module1 Critique of Marginal Productivity Theory
Module2 Matrix Algebra
Module3 Input-Output Analysis
Module4 The Sraffa Systems
Module 5 Closure for the Sraffa System
Module 6 Multi-country Multi-commodity Trade Theory
B-05 Economics of Labour
Module1 Supply
Module2 Demand
Module3 Equilibrium
Module4 Wage Structure
Module 5 The Distribution of Income
Module 6 Cyclical Fluctuations
Module7 Discrimination
Module8 Unemployment
Module 9 Macroeconomics of Labour Market
Module 10 Unions
Module 11 Labour Contracts
Module 12 Regulations and International Labour Standards
B-06 Financial Institutions and Markets
Module1 Financial System and Market Risk Management
Module2 Rate of interest–International transactions–Exchange rates
Module3 The Central Bank,Commercial Banks and Co-operative Banks
Module4 Specialized Financial Institutions
Module 5 Other Financial Institutions
Module 6 International Financial Institutions
Module7 Financial Markets and Market Regulations
Module8 International Markets
B-07 Law and Economics-I
Module1 Introduction to Law and Economics
Module2 Economic Analysis of Contract Law
Module3 Economic Analysis of Tort Law
Module4 Economic Analysis of Property Law
Module 5 The Coase Theorem
Module 6 Economic Analysis of Criminal Law
Module7 Economic Analysis of Competition Law
Module8 Competition Policy in India
B-08 Law and Economics-II
Module1 Economic Theory of Legislation
Module2 Economic Analysis of Litigation
Module3 Economic approach to Contract law in India
Module4 Economic Approach to Environmental Protection Laws
Module 5 Economic Approach to Issues in Land Acquisition Laws
Module 6 Town Planning Laws
Module7 Special Economic Zones
Module8 Intellectual Property Rights
Module 9 Economic Analysis ofCorporate Law Issues
B-09 Economic Sociology
Module1 Emergence of economic sociology and its boundaries
Module2 Classical sociological views of the economy
Module3 Social contexts of economic action
Module4 Sociologyof labour markets
Module 5 Sociologyof consumption
Module 6 Socio-cultural aspects of economic development
B-10 Environmental & Resource Economics
Module1 Introduction to Natural Resource and Environmental Economics
Module2 The Sustainability Problem
Module3 Welfare Economics and the Environment
Module4 Pollution Control: Targets and Instruments
Module 5 Benefit‐Cost Analysis
Module 6 Valuing the Environment
Module7 Case Studies
Module8 Renewable Resources
Module 9 Recyclable Resources – Minerals, Paper and E‐Waste
Module 10 Economy‐wide Modeling
Module 11 International Environmental Problems
Module 12 Trade and the Environment
B-11 Social Exclusion and Inclusive Policy
Module1 Understanding Social Exclusion
Module2 Theoretical Perspectives on discrimination
Module3 Social Exclusion of Caste,Tribe and Minority
Module4 Dimensions of exclusions and inclusive policy perspectives
Module 5 Physically challenged and Old Aged Social Exclusion
Module 6 Institutions and Inclusive Policies
B-12 Political Economy of India’s Development
Module1 Evolution of the debate over the role and ramifications of the British colonial rule for India’s economy
Module2 India’s population/demography since Independence
Module3 Planning in India up to 1991
Module4 Poverty and inequality in India
Module 5 Reforms/Liberalisation in India
B-13 Urban Economics
Module1 Introduction
Module2 The Development of Cities: Clusters & Agglomeration; City Size and Urban Growth
Module3 Land Rent & Markets and Land use pattern
Module4 Urban Transportation
Module 5 Urban Infrastructure
Module 6 Housing
Module 7 Local Government